Published: 29 September 2026
Deposits, house prices, monthly bills, credit scores - it’s a lot to take in. It’s no surprise that many would-be buyers quietly rule themselves out before they’ve even had a proper look at what might be possible.
Before we get going, check out this short video showing you why home ownership may not be light years away:
So - here’s the reassuring bit: there isn’t just one route into home ownership. There are now more ways to get moving - including low-deposit mortgages, mortgages to help increase borrowing power based on household income, Shared Ownership and ways to potentially strengthen your credit score position.
At Leeds Building Society, first time buyers can explore a range of options designed to help more people take that first step. And the best place to start? Not with guesswork, doom-scrolling property apps or resigning yourself to “it’s never going to happen” over a cuppa - but with a clearer picture of what you could afford.
Can I afford to buy my first home?
Possibly - and it’s worth checking before you count yourself out. Using an affordability calculator can help you understand what you might be able to borrow and what monthly repayments could look like. It won’t give you a guaranteed answer, but it can turn a vague “maybe one day” into a practical starting point.
How to buy your first home
Start by getting familiar with your income, regular outgoings and credit score. Consider how much deposit you need and how you much you can save. Then compare the routes available to you, from first time buyer mortgages to Shared Ownership and other buying schemes. A Decision in Principle from a lender can also help you understand what they may be willing to lend to you before you make an offer on a home.
How can first time buyers afford a home?
By being open-minded and informed. A smaller deposit route may help if saving is the sticking point but will mean you need to borrow more. A product like Income Plus may help if your earnings support borrowing more. Shared Ownership may reduce the size of the mortgage you need at the start if you’re willing to pay rent on part of the property. And improving your credit profile could help strengthen your application.
Your property could be repossessed if you don't keep up on your mortgage repayments.
Our first time buyer options worth knowing about
Start Mortgages:
If saving a big deposit is the main thing holding you back, a Start Mortgage could help. These mortgages are designed for eligible first time buyers and offers a minimum deposit of 2% or £5,000, whichever is greater. It could be useful for people who can afford monthly repayments but are finding it tough to save while renting: for example, a single or joint applicant with a household income of £49,000 and a deposit of £5,000 may be able to borrow £245,000 to purchase a home worth £250,000.
Income Plus:
The deposit is usually only part of the puzzle; the amount you can borrow matters too. Our Income Plus mortgages may allow eligible buyers to borrow more based on their income, subject to affordability and lending criteria. For some first time buyers, that extra borrowing potential could make a wider range of homes feel within reach. For example, a single first-time buyer earning £30,000 a year could potentially borrow £165,000 through Income Plus - 5.5 times their income. With a 95% loan-to-value mortgage, they could buy a property worth approximately £173,684, using a deposit of approximately £8,684.
Experian Boost: Your credit profile can play an important role in a mortgage application. Through Experian Boost, regular payments such as council tax or subscriptions may be taken into account and could potentially improve your credit score. It’s free to use, and we factor the service into our mortgage lending assessments, although not every score will increase.
Learn more about Experian Boost
With Shared Ownership, you buy a share of a property (leasehold, where you own the property for a fixed period of time but not the land) and pay rent on the remaining share. You may then be able to buy a larger share of the property later (known as staircasing), when you can afford to. It can be a helpful option if buying 100% of a home straight away feels out of reach. You will also need to consider other costs such as service or maintenance charges.
Final thoughts
The main thing is not to assume the answer to the question ‘Can I buy a home?’ is no. Your circumstances are personal, and the right route depends on your deposit, income, credit history, property goals and being comfortable with the monthly payments. Arranging an appointment with one of our team or an independent mortgage broker could reveal options you hadn’t thought of.
So, if home ownership feels miles away, don’t put the dream in a dusty “later” drawer just yet. Run the numbers, check your credit profile, explore the different mortgage routes and ask questions sooner rather than later. You might find your first front door is closer than you think.
Important note - Mortgage applicants must be 18 years or over and UK residents only.
Mortgages are subject to eligibility, status and financial standing.
Your property could be repossessed if you don't keep up on your mortgage repayments.
This article is not advice, and you should seek independent financial or legal advice if needed
